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Follow on Google News | The Financial Clinic launches WorkBOOST NYC An initiative to build financial security with workforceThousands of New Yorkers are hindered in their job search by underlying financial concerns. A proven model for financial security strategies exists to help.
An initiative to build financial security at workforce development organizations at JPMorgan Chase & Co. May 18, 2016 at 9:30am Thousands of New Yorkers are hindered in their job search by underlying financial concerns. A proven model for financial security strategies exists to help. May 5, 2016. New York, NY - The Financial Clinic (the Clinic) will launch WorkBOOST NYC, an initiative to build financial security and better understand its impact on workforce outcomes for jobseekers in the greater New York City area via the Clinic's financial security ecosystem model on Wednesday, May 18. Part of a $1 million grant from JPMorgan Chase & Co.,WorkBOOST NYC is the first project of its kind. Press are invited to attend the May 18 launch event (9:30-10:30am) WorkBOOST NYC offers a complete bundle of the Clinic's best practices and services designed to seamlessly collaborate with workforce organizations' existing services. This bundle is called the financial security ecosystem, a holistic partnership approach that builds financial security for the working poor at scale while accelerating workforce missions and outcomes. Like two sides of a zipper, this ecosystem meshes the Clinic's strategies to build financial security with its WorkBOOST NYC partners' strategies for ending poverty to provide a complete solution for New Yorkers in need. The strategies in the WorkBOOST NYC ecosystem model include: • Capacity Building: The Clinic provides technical assistance and training to build financial security strategies into the daily interactions of front-line staff of the partner organization. • Direct Services: The Clinic provides expert-level financial coaching and legal support to those customers with more complicated financial security concerns. • Lasting Change: The Clinic and its partners will use data and research to leverage lessons learned from on-the-ground practitioners to create high impact far beyond an initial program by informing best practices, the field and public policy. This financial security ecosystem is integrated through the Clinic's web-based financial coaching platform, Change Machine, which seamlessly connects the strategies in the ecosystem, making it easy for partners to adopt and integrate into their existing services, as well as to sustain the work far into the future. Change Machine provides the hard data needed for the Clinic and its partners to identify barriers to financial security and influence lasting systems change. The Clinic's gold standard model for financial coaching and highly sought after capacity building was rigorously evaluated through a groundbreaking new national study and proven to help low- and moderate-income people move toward achieving their financial goals. The milestone "Financial Education Program Evaluation Support Services Study" led by the Urban Institute, conclusively shows for the first time that financial coaching, once viewed as an emerging field, can make a measurable difference in an individual's financial well-being by helping clients take financial control of their lives. WorkBOOST NYC is made possible by a grant from JPMorgan Chase & Co. The grant is part of JPMorgan Chase's efforts to enable community partners to help individuals and families save money, build credit and improve economic opportunities in communities around the world. ABOUT THE FINANCIAL SECURITY ECOSYSTEM MODEL Financial insecurity is pervasive and often stymies many nonprofit organizations from fully and effectively serving their communities. Few organizations have the expertise, support, or resources to fully address their customer's financial insecurity. The Clinic creates "financial security ecosystems" for each of its partner organizations by providing direct, capacity building, and advocacy services to meet the specific needs of the organizations and systems; as well as the people they serve. The Clinic's holistic model delivers the highest-quality strategies that build financial security to social service organizations around the country. ABOUT CHANGE MACHINE The revolutionary online platform that significantly improves service to America's working poor, Change Machine contains all the tools and resources practitioners need to address their customers' underlying financial insecurity. Built by practitioners for practitioners, Change Machine offers unprecedented opportunities for dramatically increasing the impact of financial coaching. Change Machine provides a single platform where practitioners can learn best financial coaching practices; access all the tools and worksheets they need to coach their customers; a professional social network specifically designed for the field to share best practices; and special access for supervisors to manage their staff, customers and data. http://www.change- ABOUT THE FINANCIAL CLINIC The Clinic's mission is to build working poor peoples' financial security. The Clinic fulfills its mission through an ecosystem of services that includes direct service, capacity building with other nonprofits and systems-level solutions and social innovations to create lasting change. The Clinic works toward its vision of a nation where everyone is financially secure by transforming lessons learned on the ground into large-scale, systems-level solutions and social innovations like Change Machine that impact working poor people nationwide. A high-performing organization with a focus on results, the Clinic has put over $44 million back in the pockets of more than 16,000 customers, supported more than 345 organizations in 23 states embed financial security actions into their program models and successfully launched several policy campaigns in support of working poor families. www.thefinancialclinic.org # End
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